Royal Fund Management LLC Reduces Stake in JFrog Ltd. (NASDAQ:FROG)

Royal Fund Management LLC lowered its position in shares of JFrog Ltd. (NASDAQ:FROG - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,500 shares of the company's stock after selling 52,400 shares during the quarter. Royal Fund Management LLC's holdings in JFrog were worth $279,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FROG. North Peak Capital Management LLC acquired a new stake in shares of JFrog in the third quarter valued at approximately $73,417,000. TimesSquare Capital Management LLC grew its holdings in shares of JFrog by 114.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company's stock valued at $88,133,000 after acquiring an additional 1,617,551 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in JFrog during the third quarter valued at approximately $32,401,000. Thrivent Financial for Lutherans grew its stake in JFrog by 33.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company's stock valued at $68,969,000 after purchasing an additional 593,478 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of JFrog by 55.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company's stock worth $41,757,000 after purchasing an additional 514,895 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on FROG shares. UBS Group upped their price objective on JFrog from $30.00 to $38.00 and gave the company a "buy" rating in a report on Friday, November 8th. Barclays decreased their price objective on shares of JFrog from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Needham & Company LLC upped their price objective on JFrog from $36.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday. Scotiabank raised their price objective on JFrog from $25.00 to $30.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Finally, TD Cowen increased their price objective on shares of JFrog from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, JFrog currently has a consensus rating of "Moderate Buy" and an average target price of $37.89.

JFrog Price Performance

Shares of NASDAQ FROG traded up $0.38 during mid-day trading on Wednesday, hitting $34.30. 752,437 shares of the company's stock traded hands, compared to its average volume of 949,973. The company has a market capitalization of $3.49 billion, a P/E ratio of -64.72 and a beta of 0.95. JFrog Ltd. has a 1 year low of $22.91 and a 1 year high of $48.81. The company's 50-day moving average is $31.08 and its two-hundred day moving average is $30.79.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.24). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. The firm had revenue of $109.06 million during the quarter, compared to analysts' expectations of $105.54 million. During the same period last year, the company earned ($0.10) earnings per share. Equities analysts anticipate that JFrog Ltd. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $30.86, for a total value of $1,080,100.00. Following the completion of the sale, the director now directly owns 4,514,432 shares in the company, valued at $139,315,371.52. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Yoav Landman sold 15,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $30.26, for a total value of $453,900.00. Following the sale, the chief technology officer now owns 6,582,242 shares in the company, valued at $199,178,642.92. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,146 shares of company stock worth $8,544,054 in the last ninety days. 15.70% of the stock is owned by company insiders.

About JFrog

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.